|
|
|
MIRA INFORM REPORT
|
Report No. : |
491265 |
|
Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
FARCK S.P.A. |
|
|
|
|
Registered Office : |
Via Cellini
Benvenuto, 1, 20129 – Milano (MI) |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
03.04.1979 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacture of Machinery for the Food,
Beverage and Tobacco Industries |
|
|
|
|
No. of Employees : |
From 51 To 70 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Italy |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified economy, which is divided into a developed
industrial north, dominated by private companies, and a less-developed, highly
subsidized, agricultural south, where unemployment is higher. The Italian
economy is driven in large part by the manufacture of high-quality consumer
goods produced by small and medium-sized enterprises, many of them
family-owned. Italy also has a sizable underground economy, which by some
estimates accounts for as much as 17% of GDP. These activities are most common
within the agriculture, construction, and service sectors.
Italy is the third-largest economy in the euro zone, but its
exceptionally high public debt and structural impediments to growth have
rendered it vulnerable to scrutiny by financial markets. Public debt has
increased steadily since 2007, reaching 131% of GDP in 2017. Investor concerns
about Italy and the broader euro-zone crisis eased in 2013, bringing down
Italy's borrowing costs on sovereign government debt from euro-era records. The
government still faces pressure from investors and European partners to sustain
its efforts to address Italy's longstanding structural impediments to growth,
such as labor market inefficiencies, a sluggish judicial system, and a weak
banking sector. Italy’s economy returned to modest growth in late 2014 for the
first time since late 2011. In 2015-16, Italy’s economy grew more than 0.8%
each year, but picked up in 2017. In 2017, overall unemployment was 11.4%, but
youth unemployment remained high at 37.1%.
|
Source
: CIA |
Company
name & address
FARCK S.P.A.
Via Cellini
Benvenuto, 1
20129 – Milano (MI)
-IT-
Summary
|
Fiscal Code |
: |
00390700193 |
|
Legal Form |
: |
Joint Stock Company |
|
start of Activities |
: |
03/04/1979 |
|
Equity |
: |
Over 2.582.254 |
|
Turnover Range |
: |
10.000.000/12.750.000 |
|
Number of Employees |
: |
From 51 To 70 |
Activity
Manufacture of machinery for the food,
beverage and tobacco industries
Legal Data
Legal Form : Joint stock company
|
Fiscal Code : 00390700193 |
|
Foreign Trade Reg. no. : MI116158 since
28/01/1992 |
|
Foreign Trade Reg. no. : 116158 of Milano
since 28/01/1992 |
|
Foreign Trade Reg. no. : 9714827 of Milano |
|
Chamber of Commerce no. : 101813 of Cremona |
|
Chamber of Commerce no. : 1446870 of Lodi |
|
Chamber of Commerce no. : 1096125 of Milano
since 25/03/1982 |
|
Firms' Register : MI146-259121 of Milano
since 19/02/1996 |
|
V.A.T. Code : 06422870151 |
|
Tribunal Co. Register : 4079 of |
|
Foundation date |
: 03/04/1979 |
|
|
Establishment date |
: 03/04/1979 |
|
|
Start of Activities |
: 03/04/1979 |
|
|
Legal duration |
: 31/12/2050 |
|
|
Nominal Capital |
: 936.000 |
|
|
Subscribed Capital |
: 936.000 |
|
|
Paid up Capital |
: 936.000 |
|
Legal mail : |
FARCKSPA@PEC.IT |
Members
|
|
FRANCESCHINI |
FRANCESCO |
|
|
Born in CREMA |
(CR) |
on 12/12/1940 |
- Fiscal Code : FRNFNC40T12D142O |
|
|
Residence: |
PIAVE |
, 2 |
- 26013 |
Crema |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Partner |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Franceschini |
Carlo Antonio |
|
|
Born in Crema |
(CR) |
on 31/10/1965 |
- Fiscal Code : FRNCLN65R31D142I |
|
|
Residence: |
Caravaggio |
, 2 |
- 26013 |
Crema |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2015 |
||
|
Board Chairman |
30/04/2015 |
||
|
Managing Director |
30/04/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Franceschini |
Simona |
|
|
Born in Crema |
(CR) |
on 05/10/1972 |
- Fiscal Code : FRNSMN72R45D142Z |
|
|
Residence: |
C. Urbino |
, 72 |
- 26013 |
Crema |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2015 |
||
|
Managing Director |
30/04/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Franceschini |
Antonio |
|
|
Born in Crema |
(CR) |
on 25/07/1971 |
- Fiscal Code : FRNNTN71L25D142J |
|
|
Residence: |
De Gasperi |
, 25 |
- 26013 |
Crema |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Responsible technician |
23/01/2003 |
||
|
Director |
30/04/2015 |
||
|
Managing Director |
30/04/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Franceschini |
Francesca |
|
|
Born in Crema |
(CR) |
on 05/10/1972 |
- Fiscal Code : FRNFNC72R45D142D |
|
|
Residence: |
C. Urbino |
, 72 |
- 26013 |
Crema |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2015 |
||
|
Managing Director |
30/04/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
|
|
Franceschini |
Laura |
|
|
Born in Crema |
(CR) |
on 04/03/1970 |
- Fiscal Code : FRNLRA70C44D142M |
|
|
Residence: |
Porto Franco |
, 3/B |
- 26013 |
Crema |
(CR) |
- IT - |
|
Position |
Since |
Shares Amount |
% Ownership |
|
Director |
30/04/2015 |
||
|
Managing Director |
30/04/2015 |
|
|
No Prejudicial events are reported |
|
|
No Protests registered |
Companies connected to members *
*checkings have been performed on a national
scale.
In this module are listed the companies in
which members hold or have holded positions.
|
|
Franceschini |
Carlo Antonio |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Due Effe S.r.l. |
Pianengo (CR) - IT - |
00659870190 |
Sole Director |
Active |
Registered |
|
EUROFARCK S.R.L. (IN LIQUIDAZIONE) |
San Martino in Strada(MI) (CR) - IT - |
01077990198 |
Director |
Withdrawn |
Registered |
|
|
Franceschini |
Simona |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
Latteria Cremasca Srl (in Liquidazione) |
Crema (CR) - IT - |
00112140199 |
Liquidator |
Active |
Registered |
|
Nuova Iniziativa Pontina S.p.a. |
Latina (LT) - IT - |
01668220591 |
Director |
Withdrawn |
Bankrupt |
|
|
Franceschini |
Laura |
|
Firm's Style |
Seat |
Fiscal Code |
Position |
Position Status |
Firm's Status |
|
B2b Partners S.a.s. Di Prevot Francois
Regis Paul Pierre |
Pianengo (CR) - IT - |
01424600193 |
Limited Partner |
Active |
Registered |
The indication "REGISTERED" as Firm
Status could refer to Firms in Liquidation, Active, Inactive, etc.
For more information, in this case, we advise
to request further investigations.
Capital Shareholders
Shareholders' list as at date of data
collection:
|
Firm's Style / Name |
Seat / Residence |
Fiscal Code |
Owned Shares |
% Ownership |
|
FRANCESCHINI FRANCESCO |
Crema - IT - |
FRNFNC40T12D142O |
442.000 .Eur |
47,22 |
|
Franceschini Carlo Antonio |
Crema - IT - |
FRNCLN65R31D142I |
26.000 .Eur |
2,77 |
|
Franceschini Simona |
Crema - IT - |
FRNSMN72R45D142Z |
156.000 .Eur |
16,66 |
|
Franceschini Antonio |
Crema - IT - |
FRNNTN71L25D142J |
156.000 .Eur |
16,66 |
|
Franceschini Francesca |
Crema - IT - |
FRNFNC72R45D142D |
156.000 .Eur |
16,66 |
Direct Participations
The Company under review has no
participations in other Companies.
Firm's location and structure
In order to carry out its activities the firm
uses the following locations:
|
- |
Legal and operative seat |
|
Cellini Benvenuto |
, 1 |
- 20100 |
- Milano |
(MI) |
- IT - |
|
PHONE |
: 037374145 |
|
PHONE |
: 037374144 |
|
FAX |
: 037374788 |
|
Legal mail |
: FARCKSPA@PEC.IT |
|
- |
Branch |
(Factory) |
|
Roma |
, 94 |
- 26010 |
- Pianengo |
(CR) |
- IT - |
|
Employees |
: 52 |
|
Fittings and Equipment for a value of
400.000 |
Eur |
|
Stocks for a value of 720.000 |
Eur |
|
Furniture and fittings for a value of
15.000 |
Eur |
|
Cars for a value of 210.000 |
Eur |
|
Work in progress for a value of 600.000 |
Eur |
The firm operates abroad as importer /
exporter..
To purchase foreign products the firm uses
the following channels :
|
- its own sales net-work |
Export represents up to 20% of the global
turnover.
Products abroad are placed by :
|
- its own sales net-work |
Export is mainly towards:
|
- France |
Historical Information and/or Firm's Status
CHANGES TO THE LEGAL FORM:
|
Former legal form |
New legal form |
Changement Date |
|
Limited liability company |
Joint stock company |
29/01/1982 |
Protests
Protests checking on the subject firm has
given a negative result.
Data Base Prejudicial Events Search
Search performed on a National Scale
|
|
Prejudicial Events Search
Result: NEGATIVE |
Search performed on a specialized data base.
Legal Procedures
None reported, standing to the latest received
edition of the Official Publications.
National Real Estates Survey
The firm under review, by the reported
percentages, owns the following real estates:
|
Town |
Cadastre |
No. Immovables |
Up to Date |
|
LAVAGNA (GE) |
Buildings |
1 |
07/02/2018 |
|
Buildings Details |
|
Cadastre |
Title |
Location |
Sheet No. |
Particle No. |
Sub No. |
Categorie |
Classe |
Consistence |
Cadastrial Rent |
Part No. |
|
B |
Proprieta' superficiaria per 1/1 |
LAVAGNA (GE) VIA PORTO TURISTICO, 63 Piano
T |
3 |
1498 |
111 |
cat. C/6 |
8 |
16 mq |
Euro:140,48 |
All responsibilities are declined regarding
any possible omissions concerning the given results. Therefore, we advise to
request for "Hypothecating Survey Inspection" c/o the locally
competent RR.II. Immovables Registry, as this service doesn't fully guarantees
the actual title of the Real Estates of the requested Subject.
Financial and Economical Analysis
Subject is active since 1979
The economic-financial analysis has been made
on the base of the b/s of the latests three years.
Unstable economic results mark the company's
financial state of affairs. anyway in 2016 a positive result was achieved
(r.o.e. 6,23%). Upward trend as to the turnover in the last financial year
(more then 100%).
The return on Investment in the last
financial year was positive (1,91%) falling within the field's average.
The amount of the operating result is equal
to Eur. 216.163 rising (+more then 100%) in relation to the previous year.
A gross operating margine for a value of Eur.
403.169 was reached. with a more then 100% growth.
From a financial aspect the company's status
covers total short-term debts; the indebtedness volume in 2016 is in fact 0,92
which is yet rising if compared to 2015.
It's shareholders funds amount to Eur.
3.282.223 , unchanged if compared to 2015.
During the last financial year debts totalled
Eur. 7.621.538 (Eur. 120.124 of which were m/l term debts) with no important
change.
The recourse to financial credit is within
the limits; on the other hand the recourse to suppliers' credit is rated as
fairly high even in comparison with the sector's.
Liquidity is however good.
Due from customers average term is high and
equal to 110,04 days. within the standard level of the average of the sector.
During financial year 2016 the cash flow
amounted to Eur. 391.450
Labour cost amounts to Eur. 2.511.098, with a
25,35% incidence on production costs. , whereas the incidence of such costs on
sales revenues is equal to 23,71%.
The financial charges are lower than the
financial incomes.
Financial Data
|
|
Complete balance-sheet for the year |
al 31/12/2016 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
10.591.261 |
|
Profit (Loss) for the period |
204.444 |
|
|
Complete balance-sheet for the year |
al 31/12/2015 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
4.713.581 |
|
Profit (Loss) for the period |
-109.723 |
|
|
Complete balance-sheet for the year |
al 31/12/2014 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
8.209.622 |
|
Profit (Loss) for the period |
590.614 |
|
|
Complete balance-sheet for the year |
al 31/12/2013 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
9.745.292 |
|
Profit (Loss) for the period |
166.278 |
|
|
Complete balance-sheet for the year |
al 31/12/2012 |
(in Eur |
x 1) |
|
Item Type |
Value |
|
Sales |
6.281.794 |
|
Profit (Loss) for the period |
8.430 |
Balance Sheets
From our constant monitoring of the relevant Public
Administration offices, no more recent balance sheets result to have been
filed.
|
- Balance Sheet as at 31/12/2016 - 12 Mesi
- Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2015 - 12 Mesi
- Currency: - Amounts x 1 |
|
- Balance Sheet as at 31/12/2014 - 12 Mesi
- Currency: - Amounts x 1 |
|
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|
|
RATIOS |
Value Type |
as at 31/12/2016 |
as at 31/12/2015 |
as at 31/12/2014 |
Sector Average |
|
COMPOSITION ON INVESTMENT |
|||||
|
Rigidity Ratio |
Units |
0,22 |
0,14 |
0,09 |
0,18 |
|
Elasticity Ratio |
Units |
0,78 |
0,86 |
0,91 |
0,80 |
|
Availability of stock |
Units |
0,06 |
0,15 |
0,04 |
0,24 |
|
Total Liquidity Ratio |
Units |
0,72 |
0,70 |
0,87 |
0,48 |
|
Quick Ratio |
Units |
0,40 |
0,48 |
0,60 |
0,03 |
|
COMPOSITION ON SOURCE |
|||||
|
Net Short-term indebtedness |
Units |
0,92 |
0,53 |
n.c. |
3,25 |
|
Self Financing Ratio |
Units |
0,29 |
0,31 |
0,38 |
0,19 |
|
Capital protection Ratio |
Units |
0,65 |
0,73 |
0,52 |
0,63 |
|
Liabilities consolidation quotient |
Units |
0,07 |
0,08 |
0,12 |
0,19 |
|
Financing |
Units |
2,32 |
2,13 |
1,51 |
3,80 |
|
Permanent Indebtedness Ratio |
Units |
0,34 |
0,35 |
0,45 |
0,36 |
|
M/L term Debts Ratio |
Units |
0,05 |
0,05 |
0,07 |
0,11 |
|
Net Financial Indebtedness Ratio |
Units |
0,00 |
0,00 |
0,00 |
0,63 |
|
CORRELATION |
|||||
|
Fixed assets ratio |
Units |
1,56 |
2,59 |
5,04 |
1,75 |
|
Current ratio |
Units |
1,18 |
1,33 |
1,64 |
1,21 |
|
Acid Test Ratio-Liquidity Ratio |
Units |
1,08 |
1,09 |
1,56 |
0,81 |
|
Structure's primary quotient |
Units |
1,34 |
2,23 |
4,27 |
1,03 |
|
Treasury's primary quotient |
Units |
0,60 |
0,75 |
1,07 |
0,06 |
|
Rate of indebtedness ( Leverage ) |
% |
344,98 |
326,86 |
264,68 |
516,42 |
|
Current Capital ( net ) |
Value |
1.325.139 |
2.157.660 |
2.982.644 |
422.465 |
|
RETURN |
|||||
|
Return on Sales |
% |
3,70 |
1,02 |
9,14 |
3,35 |
|
Return on Equity - Net- ( R.O.E. ) |
% |
6,23 |
-3,57 |
18,53 |
5,13 |
|
Return on Equity - Gross - ( R.O.E. ) |
% |
9,19 |
-3,72 |
30,12 |
14,77 |
|
Return on Investment ( R.O.I. ) |
% |
1,91 |
-1,15 |
11,80 |
4,16 |
|
Return/ Sales |
% |
2,04 |
-2,46 |
12,13 |
4,11 |
|
Extra Management revenues/charges incid. |
% |
94,58 |
n.c. |
59,33 |
28,57 |
|
Cash Flow |
Value |
391.450 |
47.937 |
750.436 |
122.482 |
|
Operating Profit |
Value |
216.163 |
-115.747 |
995.551 |
144.752 |
|
Gross Operating Margin |
Value |
403.169 |
41.913 |
1.155.373 |
241.990 |
|
MANAGEMENT |
|||||
|
Credits to clients average term |
Days |
110,04 |
152,07 |
81,78 |
111,85 |
|
Debts to suppliers average term |
Days |
240,30 |
328,41 |
227,87 |
128,30 |
|
Average stock waiting period |
Days |
24,54 |
119,00 |
15,23 |
80,43 |
|
Rate of capital employed return ( Turnover
) |
Units |
0,94 |
0,47 |
0,97 |
1,08 |
|
Rate of stock return |
Units |
14,67 |
3,03 |
23,65 |
4,45 |
|
Labour cost incidence |
% |
23,71 |
43,56 |
27,25 |
19,12 |
|
Net financial revenues/ charges incidence |
% |
0,81 |
0,03 |
0,08 |
-1,08 |
|
Labour cost on purchasing expenses |
% |
25,35 |
35,18 |
31,21 |
19,02 |
|
Short-term financing charges |
% |
0,24 |
0,27 |
0,56 |
2,68 |
|
Capital on hand |
% |
106,91 |
213,43 |
102,76 |
91,91 |
|
Sales pro employee |
Value |
135.785 |
73.649 |
118.980 |
198.432 |
|
Labour cost pro employee |
Value |
32.193 |
32.078 |
32.417 |
35.779 |
Remarks
1) Protests checking (relative to the last five
years) performed by crossing and matching the members names and the Firm's
Style with the reported addresses, is supplied by the Informatic Registry
managed by the Italian Chamber of Commerce. If the fiscal code is not
indicated, the eventual homonymous cases are submitted to expert staff
evaluation in order to limit wrong matching risks.
2) The Legal Data, supplied and retrived from
the Firm's Registry of the Italian Chamber of Commerce, are in line with the
last registered modifications.
3) Risk evaluation and Credit Opinion have
been performed on the base of the actual data at the moment of their
availability.
Market / Territory Data
|
Population living in the province |
: |
3.839.216 |
|
Population living in the region |
: |
9.393.092 |
|
Number of families in the region |
: |
3.858.736 |
Monthly family expences average in the region
(in Eur..) :
|
- per food products |
: |
460 |
|
- per non food products |
: |
2.090 |
|
- per energy consume |
: |
114 |
Sector Data
The values are calculated on a base of 1.206
significant companies.
The companies cash their credits on an
average of 112 dd.
The average duration of suppliers debts is
about 128 dd.
The sector's profitability is on an average
of 3,35%.
The labour cost affects the turnover in the
measure of 19,12%.
Goods are held in stock in a range of 80 dd.
The difference between the sales volume and
the resources used to realize it is about 1,08.
The employees costs represent the 19,02% of
the production costs.
Statistical Detrimental Data
Statistically the trade activity shows
periods of crisis.
The area is statistically considered lowly
risky.
In the region 50.886 protested subjects are found;
in the province they count to 24.765.
The insolvency index for the region is 0,55,
, while for the province it is 0,66.
Total Bankrupt companies in the province :
22.523.
Total Bankrupt companies in the region :
39.612.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
Euro |
1 |
INR 78.98 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.